Comments on: Do You Have to File a Gift Tax Return? http://www.mydollarplan.com/gift-tax-return/ because money doesn't grow on trees Tue, 07 Feb 2012 15:59:33 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Jill http://www.mydollarplan.com/gift-tax-return/#comment-71557 Jill Mon, 31 Jan 2011 15:51:56 +0000 http://www.mydollarplan.com/?p=1116#comment-71557 Roger, Annual exclusion gifts apply to anyone - you can go give $12,000 to a stranger on the street and nobody owes taxes on the money! Roger,
Annual exclusion gifts apply to anyone – you can go give $12,000 to a stranger on the street and nobody owes taxes on the money!

]]> By: Jill http://www.mydollarplan.com/gift-tax-return/#comment-71556 Jill Mon, 31 Jan 2011 15:51:19 +0000 http://www.mydollarplan.com/?p=1116#comment-71556 Tony, If you mean a gift to CHARITY, those are tax deductible but must be made in the year in which you wish to deduct them. In this case, if you give a gift in Feb 2011 you can deduct it on your 2011 taxes (subject to limits) If you mean a gift to a PERSON (which is what this article is referring to), you do not write it off - in fact, you may have to PAY taxes on it. But once again, you claim it in the year which it was paid. At this point, the deadline has passed for 2010 gifts/charitable contributions. Tony,
If you mean a gift to CHARITY, those are tax deductible but must be made in the year in which you wish to deduct them. In this case, if you give a gift in Feb 2011 you can deduct it on your 2011 taxes (subject to limits)

If you mean a gift to a PERSON (which is what this article is referring to), you do not write it off – in fact, you may have to PAY taxes on it. But once again, you claim it in the year which it was paid.

At this point, the deadline has passed for 2010 gifts/charitable contributions.

]]> By: Anthony Carter http://www.mydollarplan.com/gift-tax-return/#comment-71553 Anthony Carter Mon, 31 Jan 2011 15:42:25 +0000 http://www.mydollarplan.com/?p=1116#comment-71553 Can I give a Gift in Feb. 2011 and write it off on my 2010 taxes? What is DEADLINE for giving a gift that can be included in 2010 tax filing. April 15th?? Thank you, Tony Carter Can I give a Gift in Feb. 2011 and write it off on my 2010 taxes?

What is DEADLINE for giving a gift that can be included in 2010 tax filing. April 15th??

Thank you,
Tony Carter

]]> By: Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Twenty-ninth Edition http://www.mydollarplan.com/gift-tax-return/#comment-10488 Baby Boomers U. S. (The Blog) » Blog Archive » Baby Boomers Blog Carnival Twenty-ninth Edition Wed, 03 Mar 2010 11:12:17 +0000 http://www.mydollarplan.com/?p=1116#comment-10488 [...] presents Do You Have to File a Gift Tax Return? posted at My Dollar Plan, saying, “If you are giving away money in your retirement, make sure [...]

[...] presents Do You Have to File a Gift Tax Return? posted at My Dollar Plan, saying, “If you are giving away money in your retirement, make sure [...]

]]> By: Weekend Linkage – February 28, 2010 http://www.mydollarplan.com/gift-tax-return/#comment-10472 Weekend Linkage – February 28, 2010 Mon, 01 Mar 2010 02:57:52 +0000 http://www.mydollarplan.com/?p=1116#comment-10472 [...] Do You Have to File a Gift Tax Return? [...]

[...] Do You Have to File a Gift Tax Return? [...]

]]> By: Roger Schweigert http://www.mydollarplan.com/gift-tax-return/#comment-10464 Roger Schweigert Sat, 27 Feb 2010 04:42:11 +0000 http://www.mydollarplan.com/?p=1116#comment-10464 Can these gifts be to anyone or just to immediate family members? In the past, I thought the annual gift exclusion was for gifts made to family members under that year's established threshold. Can these gifts be to anyone or just to immediate family members? In the past, I thought the annual gift exclusion was for gifts made to family members under that year’s established threshold.

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